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Risk Warning - Notice to UK Users  

Estimated reading time: 2 mins

Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

What are the key risks?

1.You could lose all the money you invest

The performance of most cryptoassets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.

The crypto asset market is largely unregulated. There is a risk of losing money or any cryptoassets you purchase due to risks such as cyber-attacks, financial crime and firm failure.

2.You should not expect to be protected if something goes wrong

The Financial Services Compensation Scheme (FSCS) doesn’t protect this type of investment because it’s not a ‘specified investment’ under the UK regulatory regime – in other words, this type of investment isn’t recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker here.

The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm. Learn more about FOS protection here.

3.You may not be able to sell your investment when you want to

There is no guarantee that investments in crypto assets can be easily sold at any given time. The ability to sell a crypto asset depends on various factors, including the supply and demand in the market at that time.

Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delay and you may be unable to sell your crypto assets at the time you want.

4.Cryptoasset investments can be complex

Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment.

You should do your own research before investing. If something sounds too good to be true, itprobably is.

5.Don’t put all your eggs in one basket

Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on any one to do well.

A good rule of thumb is not to invest more than 10% of your money in high-risk investments. Learn more here.

If you are interested in learning more about how to protect yourself, visit the FCA’s website here.

For further information about cryptoassets, visit the FCA’s website here.

What is Chiliz (CHZ) ?

Ready for a game-changing fusion of sports and blockchain technology? Join us on a deep dive into the innovative Chiliz and its token CHZ.

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A platform every sports fan needs to know about, Chiliz is the number one place to go for sports-related fan tokens. CHZ is the token behind the platform, and the platform is the gateway for fans to tap into unique experiences with their favorite sports team. 

What Is The Chiliz Network?

Chiliz is the company that owns, CHZ is the token that fuels the platform. Through the Socios NFT marketplace, traders can buy their favorite fan tokens, using CHZ to facilitate all transactions. 

Built on Ethereum, Chiliz provides users with an opportunity to buy branded NFT tokens using the ERC-20 and BEP-20 CHZ tokens. Fans can also earn NFTs through contests or exchange them for team-specific merchandise and benefits. Some fan tokens reward fans with access to meet the players and vote on club decisions. The platform currently supports over 50 different sports and entertainment-specific fan tokens.

Leveraging blockchain technology, Socios directly engages fans with the team/entertainer, a step up from just watching games or buying team merchandise. Chiliz allows each team that partners with them to design unique experiences for their Fan Token holders. These Fans Tokens also give the holder sway over decisions usually left up to the team, like what songs play when a goal is scored, new uniform designs, and even which players start in some games.

Additionally, Chiliz helps sports franchises make money from fans in new ways, while providing unique experiences to their most loyal supporters.

Who Created The Chiliz Network?

Chiliz was founded in 2012 by Alexander Dreyfus, its acting CEO. The company falls under the Mediarex Group, an international sports and entertainment organization, and holds esteemed partners including Sam Li, former Vice President of the NBA, Nicolas Maurer, CEO of esports team Vitality, and Dr. DisRespect, one of the world’s largest video game streamers.

In 2018, the blockchain-based Socios platform was launched, alongside the CHZ token. Following funding of $66 million by Private Placement in 2019, the platform launched its website and app. Today, the company also has offices in France, Turkey, Spain, South Korea, and Brazil.

How Does The Chiliz Network Work?

The CHZ token can be used on both the Ethereum blockchain as an ERC20 token and on the Binance Smart Chain as a BEP2 token. Fans looking to engage on the platform can buy CHZ tokens from, the platform's own exchange, or from other cryptocurrency platforms like Tap.

Users can then purchase Fan Tokens using CHZ from the Socios marketplace. The platform supports a wide range of sporting teams, from Formula 1 teams to FC Barcelona to Golden State Warriors basketball team. Each team that partners with the platform can dictate the fan tokens prices, distribution and supply as well as unique opportunities they wish to give to fans. Based on the token's performance, they can be burned in order to make a winning team's tokens more valuable. 

As an example of the privileges offered with fan tokens: for eight years, the Juventus soccer club played Chelsea Dagger in the stadium whenever the team scored a goal. Recently, however, fan token holders chose Blur's Song 2 as the new victory song, and Juventus made the switch. The more fan tokens one holds, the bigger their vote.

The blockchain network is built on Ethereum and uses a Socios sidechain to create and verify all fan tokens. This process utilizes the Proof of Authority (PoA) consensus mechanism which relies on a small group of authorized verifiers. This consensus model leans towards business structures looking to be scalable and efficient.

Chiliz is also partnered with the decentralized oracle network Chainlink, through which it creates unique non-fungible tokens (NFTs). These NFTs are used to celebrate special events such as championships or player milestones.

What Is CHZ?

CHZ is compatible with both the Ethereum and Binance Smart Chain platforms. The token is used as a medium of exchange on the Socios platform, allowing fans to buy Fan Tokens. 

There is a maximum supply of 8,888,888,888 CHZ in existence, and at the time of writing roughly 70% are in circulation. 

Where Can I Get CHZ?

Users can simply buy /sell CHZ through the Tap app, one of the most secure solutions in the crypto space. Using a range of cryptocurrencies and fiat currencies on offer, users can exchange any of the supported currencies to build a healthy portfolio that can be safely stored in the unique wallet linked to the account. Find links to download the app from the Tap website.


This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.


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